Research Analysts Offer Predictions for First Quantum Minerals Ltd.’s Q3 2022 Earnings (TSE:FM)

First Quantum Minerals Ltd. (TSE:FMGet Rating) – Jefferies Financial Group cut their Q3 2022 earnings per share (EPS) estimates for First Quantum Minerals in a report issued on Tuesday, April 26th. Jefferies Financial Group analyst C. Lafemina now expects that the company will post earnings of $0.99 per share for the quarter, down from their previous estimate of $1.05. Jefferies Financial Group also issued estimates for First Quantum Minerals’ Q4 2022 earnings at $0.72 EPS, FY2024 earnings at $7.37 EPS and FY2025 earnings at $7.76 EPS.

First Quantum Minerals (TSE:FMGet Rating) last released its earnings results on Tuesday, February 15th. The company reported C$0.55 EPS for the quarter, missing analysts’ consensus estimates of C$0.65 by C($0.10). The firm had revenue of C$2.60 billion during the quarter, compared to analysts’ expectations of C$2.54 billion.

A number of other brokerages have also issued reports on FM. CIBC boosted their price target on First Quantum Minerals from C$37.00 to C$40.00 and gave the company an “outperform” rating in a report on Thursday, January 20th. TD Securities lowered their price target on First Quantum Minerals from C$52.00 to C$50.00 and set a “buy” rating for the company in a report on Wednesday. Eight Capital upped their target price on First Quantum Minerals from C$40.00 to C$50.00 and gave the stock a “market perform” rating in a report on Thursday, April 21st. The Goldman Sachs Group lowered First Quantum Minerals to a “hold” rating and set a C$42.00 target price for the company. in a report on Wednesday, March 9th. Finally, Raymond James set a C$50.00 target price on First Quantum Minerals and gave the stock an “outperform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$39.75.

Shares of TSE FM opened at C$35.57 on Thursday. The company has a debt-to-equity ratio of 80.46, a quick ratio of 1.48 and a current ratio of 2.34. The firm has a market capitalization of C$24.40 billion and a price-to-earnings ratio of 23.51. The stock has a 50 day moving average price of C$39.38 and a 200 day moving average price of C$33.37. First Quantum Minerals has a 52-week low of C$20.67 and a 52-week high of C$45.38.

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, May 6th. Shareholders of record on Thursday, April 14th will be given a dividend of $0.005 per share. This represents a yield of 0.01%. The ex-dividend date of this dividend is Wednesday, April 13th. First Quantum Minerals’s dividend payout ratio is currently 0.53%.

In other First Quantum Minerals news, Director Philip K.R. Pascall sold 81,582 shares of the stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of C$36.72, for a total transaction of C$2,995,691.04. Following the sale, the director now directly owns 5,872,725 shares of the company’s stock, valued at approximately C$215,646,462. Also, Director G. Clive Newall sold 43,949 shares of the stock in a transaction dated Friday, March 18th. The stock was sold at an average price of C$42.00, for a total value of C$1,845,805.26. Following the sale, the director now directly owns 2,193,461 shares in the company, valued at C$92,122,729.85. Insiders have sold a total of 292,201 shares of company stock worth $11,371,329 over the last ninety days.

First Quantum Minerals Company Profile (Get Rating)

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, gold, silver, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.

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Earnings History and Estimates for First Quantum Minerals (TSE:FM)

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